Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.061%

Price spread now: Bulk against Variational Omni+0.138%7-day average +0.119% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.285%+$28 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.138%, 7d avg +0.119%

Together, before fees+0.173%+ Points / potential airdropVariational Omni: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.119%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	798.14	0.0010	pay 0.0010% / 8h	7h 56m	$4.1M	$5.4M	—
Short	Bulk BNB-USD	799.24	0.0158	get 0.0020% / 1h	56m 11s	$649K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee BulkbpOrdersPrice spread, now +0.138%Rate

Funding earned: $31.06
Price spread: +0.138% → +0.119%: $1.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $25.92
Costs to cover: 0.070%
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bulk: live order book, 18 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 3 min ago	3.33 bp	doesn't fit	6.7 bp −$67	doesn't fit	doesn't fit
Sell Bulk live order book, 18 min ago	0.06 bp	3.6 bp −$4	3.8 bp −$38	6.6 bp −$660	16.5 bp −$8,258

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0201% / S +0.0372%	1h	798.05	−0.011%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.28	+0.017%	$2.5M	$977K	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.88	+0.092%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.73	+0.199%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.47	+0.166%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	798.75	+0.076%	$69.9M	$50.7M	50x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.10	−0.005%	$9.7M	—	150x	as long as short
Variational Omni BNBlong	+0.0010%	8h	798.14	long leg	$4.1M	$5.4M	—
Gate BNB_USDT	+0.0021%	8h	798.10	−0.005%	$35.7M	$55.6M	75x	as long as short
Bybit BNBUSDT	+0.0027%	8h	798.19	+0.006%	$138.6M	$76.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.870%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.68	+0.067%	$602K	$985K	50x	as long as short
Aster BNBUSDT	+0.0074%	8h	798.70	+0.070%	$6.2M	$19.3M	200x	as long as short
BingX BNB-USDT	+0.0077%	8h	798.35	+0.026%	—	$35.2M	—	as long as short
Binance BNBUSDT	+0.0094%	8h	798.85	+0.088%	$497.0M	$818.2M	75x	as long as short
MEXC BNB_USDT	+0.0095%	8h	799.10	+0.120%	$83.0M	$13.5M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.42	+0.034%	$2.8M	$4.0M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.95	−0.024%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.79	+0.081%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.20	+0.007%	$54.3M	$112.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.80	+0.082%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.99	−0.019%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.08	−0.008%	$78.8M	$27.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.62	+0.186%	$4.2M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	+0.154%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.17	+0.003%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.06	−0.010%	$386K	$487K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.23	+0.011%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.68	+0.067%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.40	+0.032%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.48	+0.042%	$1.6M	$160K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.39	+0.031%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.22	+0.135%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.70	−0.056%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.46	+0.040%	$384K	$64K	10x	as long as short
Phoenix BNB	+0.0127%	1h	799.98	+0.230%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.05	+0.113%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0154%	8h	799.00	+0.107%	$90K	$2.9M	4.8x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.61	+0.058%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USDshort	+0.0158%	1h	799.24	+0.138%	$649K	$14K	10x
01 Exchange BNBUSD	+0.0208%	1h	798.90	+0.095%	$28K	$1K	10x	as long as short
BloFin BNB-USDT	+0.0215%	8h	799.13	+0.124%	$18.1M	$2.5M	75x	as long as short
dYdX BNB-USD	+0.0248%	1h	798.89	+0.093%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0289%	1h	799.19	+0.131%	$52.5M	$20.8M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0299%	1h	799.08	+0.117%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	797.72	−0.053%	$6K	$3K	40x	as long as short